MARC has revised its rating outlook on Leader Universal Holdings Berhad’s (Leader) RM150.0 million Murabahah Medium Term Notes (MMTN) Issuance Programme to stable from developing and affirmed the MMTN rating at AID. The rating outlook revision reflects easing concerns surrounding the impact of Leader’s equity financing requirement for the construction of its second power plant project ...

Leader Universal Holdings Berhad’s (Leader) rating on its RM150.0 million Murabahah Medium Term Notes Issuance Programme has been affirmed at AID. The affirmed rating reflects Leader’s status as the market leader in the highly competitive cable and wire industry, the relatively stable profit contribution from its power generation business and its improving gearing levels. These factors...

Major Rating FactorsStrengthsPredominant position in local cable industryHealthy liquidity and demonstrated ability to generate cash flows in excess of capital expenditure. Challenges/RisksParticipation in cyclical, price competitive, and capital intensive cable industry.A high degree of industry and customer concentrationRelatively high debt service costsPotential significant cash outlay on its s...

The ratings of Leader Universal Holdings Berhad’s (LEADER) RM150.0 Million Murabahah Medium Term Notes Issuance Programme has been reaffirmed at AID , with a stable outlook reflecting the Group’s dominant market position in the domestic cable and wire manufacturing industry coupled with stable recurring revenue contributions from its power generation business in Cambodia. Leader&rsqu...

The affirmation of Leader Universal Holdings Berhad’s (LEADER) rating of AID reflects the Group’s leading position in the cable and wire manufacturing industry as well as the stable revenue contribution from its power generation business in Cambodia. The rating however, is moderated by thin margins of its cable and wire products, the large number of players relative to major consumer...

The short- and long-term ratings of MARC-2ID and A ID for Leader Universal Holdings Berhad’s (LEADER) proposed private debt securities reflects the Group’s leading position in the cables and wires manufacturing industry as well as the stable revenue arising from its power generation business in Cambodia. Moderating factors include the low margins of its cable and wire products, and t...